Outdoor Power Equipment Market

Market Leaders - Outdoor Power Equipment Market

The global outdoor power equipment market size is expected to grow from USD 26.4 billion in 2021 to USD 35.8 billion by 2026, at a CAGR of 6.3%. The growing affinity for yard maintenance and beautification of private and public spaces along with the growing demand for commercial landscaping services are key factors driving the outdoor power equipment market.

The key players operating in the outdoor power equipment market include the major players which operates in different stages in the entire value chain of outdoor power equipment; these players are Deere & Co. (US), Husqvarna (Sweden), STIHL Group (Germany), Stanley Black & Decker (US), and The Toro Company (US). For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including increasing investments in R&D (research & development) and new product launches, increasing number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions etc.

To know about the assumptions considered for the study download the pdf brochure

Husqvarna is a leading producer of outdoor power equipment, meant for both commercial and residential end users. The company showcases an all-round portfolio of several categories of outdoor power equipment, with gas-, electric-, and battery-powered variants for every product, carefully categorized to meet customer demands. The strong domestic as well as international presence of the company helps it to ensure revenue inflow from a diversified customer base. The company has been operational in the outdoor power equipment market for over 101 years; thus, it has deep technical knowledge, which enables it to design products as per the current market trends. Husqvarna has mainly been focusing on the strategies of R&D, and product launches and developments. Husqvarna has increased its R&D investments over the past 3 years (~3.8% to ~4.1% from 2018–2020) to improve its product line to include energy-efficient and digitally enabled products. Husqvarna has also invested in creating digital solutions to improve customer experience. It introduced the Husqvarna Tools for You to help customers to lease outdoor power equipment on a pro-rata basis. Through this, it is serving more than one million customers currently, which would help the organization to convert them as regular customers and maintain a regular inflow of revenue through digital applications.

Toro is a major player in the outdoor power equipment market, with a diverse product portfolio serving both the professional and residential end-use segments. The company leverages its wide network of channel partners to understand customer psyche, and based on that, introduces new products and enhancements, which subsequently helps boost the company’s revenue. This enables the company to easily reach out to diversified markets and customer base. The company also focuses on providing after-sales support and services. Toro relies substantially on mergers, acquisitions, and external collaborations to expand its product portfolio and improve sales and distribution network. For instance, in 2020, Toro acquired Venture Products, Inc., a manufacturer of Ventrac products, which enabled the organization to strengthen its professional segment and expand the product portfolio of turf, landscape, snow, and ice maintenance categories. In the past three years, the company increased its R&D spending (~3.2% to ~3.7% from 2018 to 2020) to increase product launches and develop advanced versions of its existing products.

John Deere is one of the leading players in the outdoor power equipment market with more than 184 years of experience. The company markets its products through a massive network of dealers spread across the world. For the US and Canada markets, it manages a network of 1977 independent dealers. Outside the North American region, its agriculture and turf products are sold to dealers and distributors for resale in over 100 countries worldwide. Additionally, it has established sales and administrative offices in more than 21 countries and centralized parts distribution warehouses in 4 countries, which work in tandem with regional parts centers. This massive network ensures timely revenue inflow from diversified locations and customer base. John Deere significantly invests in R&D activities to manufacture new products and enhancements for its existing product lines by improving quality and producing advanced products with enhanced capacities and better manufacturing technology.

Stanley Black & Decker is a well-established organization in the outdoor power equipment market, catering to a huge base of both commercial and residential customers globally. The company has a huge product portfolio pertaining to outdoor power equipment, marketed under several renowned brand names such as DeWALT, BLACK+DECKER, and CRAFTSMAN. Owing to their differentiated product line and dynamic business strategies, including acquisitions and expansions, the company has been recognized as the global leader in the outdoor power equipment market. Stanley Black & Decker employs the strategy of acquisition, which involves geographic, industrial, and customer diversification, to expand its footprint through sustainable revenue and cash flow. With the latest acquisition of MTD Holdings Inc., the company was able to expand its outdoor power equipment portfolio, increase operational efficiency, and improve revenue growth.

Related Reports:

Outdoor Power Equipment Market by Equipment Type (Lawn Mower, Chainsaw, Trimmer & Edger), Applications (Commercial, Residential/DIY), Functionality (Connected/Smart, Conventional), Power Source (Fuel, Electric) and Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 7109
RI Published ON
6/23/2022
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Outdoor Power Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved